BlackRock IBIT Drives $527M Bitcoin ETF Rebound After Two-Week Slide

US spot Bitcoin exchange-traded funds recorded $526.7 million in net inflows on Monday, marking their strongest daily performance since Sept. 22, when the funds attracted $714.7 million. The surge reversed Friday's $82.4 million in net outflows and provided a sharp counterpoint to two consecutive weeks of net withdrawals from spot Bitcoin ETFs.

BlackRock's iShares Bitcoin Trust (IBIT) led the rally with $665.2 million in inflows, a figure that alone exceeded the net total across all funds. Those gains were partially offset by $83.6 million in withdrawals from Fidelity's Wise Origin Bitcoin Fund (FBTC) and $54.9 million pulled from Grayscale Bitcoin Trust (GBTC), while other spot Bitcoin products reported no net flows, according to data from Farside Investors.

The rebound comes after a sustained pullback. Last week, US spot Bitcoin ETFs shed roughly $229 million, following a steeper $681 million loss the week prior. The funds also recorded $483.9 million in outflows on Oct. 7, the largest single-day withdrawal since June. Despite Monday's surge, spot Bitcoin ETFs remain approximately $88 million in negative territory for October.

The picture was less favorable for Ethereum products. US spot Ether ETFs recorded $103.3 million in net outflows on Monday, led by a $95.4 million withdrawal from BlackRock's iShares Ethereum Trust (ETHA). Ether funds lost roughly $320 million last week, extending their losing streak to a third consecutive week of net withdrawals.